Germany Resists Calls for ECB Aid in Euro Growth Dilemma
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German Finance Minister Wolfgang Schaeuble said deficit-fueled growth leads to economic decline, signaling discord with Italy and France as euro-area policy makers seek ways to avoid deflation and spur growth.
With France urging a stronger role for monetary policy to help spark its stagnant economy, Chancellor Angela Merkel emphasized the European Central Bank’s independence in a recent phone call with ECB President Mario Draghi, German government spokesman Steffen Seibert said today. The call was at Draghi’s request, Seibert said at a regular news briefing in Berlin.